Business
FIRM CAPITAL PROPERTY TRUST ANNOUNCES $20 MILLION BOUGHT DEAL FINANCING OF TRUST UNITS
FIRM CAPITAL PROPERTY TRUST ANNOUNCES $20 MILLION BOUGHT DEAL FINANCING OF TRUST UNITS ...
About this update from Firm Capital Property Trust
[{"type":"text","content":"\n \n \n \n FIRM CAPITAL PROPERTY TRUST ANNOUNCES $20 MILLION BOUGHT DEAL FINANCING OF TRUST UNITS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n TORONTO\n \n \n ,\n \n \n May 16, 2022\n \n \n /CNW/ - Firm Capital Property Trust (\"\n \n FCPT\n \n \" or the \"\n \n Trust\n \n \"), (TSX: FCD.UN) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity and TD Securities, as joint bookrunners, to issue to the public 2,820,000 trust units (the \"\n \n Trust Units\n \n \") of FCPT at a price of\n \n $7.10\n \n per Trust Unit (the \"\n \n Issue Price\n \n \") for gross proceeds of approximately\n \n $20 million\n \n (the \"\n \n Offering\n \n \"). The Trust has also granted the underwriters an over-allotment option to purchase up to an additional 423,000 Trust Units at the Issue Price exercisable, in whole or in part, at any time and from time to time until 30 days following the closing of the Offering, to cover over-allotments (if any). If the over-allotment option is exercised in full, the gross proceeds of the Offering will be approximately\n \n $23 million\n \n .\n \n \n The Trust Units will be issued pursuant to a prospectus supplement that will be filed with the securities regulatory authorities in all provinces of\n \n Canada\n \n under the Trust's base shelf prospectus dated\n \n January 10, 2022\n \n and may also be offered by way of private placement into\n \n the United States\n \n pursuant to Rule 144A under the United States Securities Act of 1933, as amended (the \"\n \n U.S. Securities Act\n \n \"). The net proceeds of the Offering will be used to repay indebtedness and for working capital and general trust purposes.\n \n \n Since the beginning of 2021, the Trust has completed\n \n $210.6 million\n \n in acquisitions (including closing costs and joint arrangement interests), comprised of thre...